tv Keiser Report RT January 2, 2018 5:30pm-6:00pm EST
hi america has or this is the kaiser report only one day to go before the millionth birthday of big coing just think about that in nine years it went from absolutely unknown piece of software to world shaking wall street transforming society busting mega important thing oh yes max it was january third two thousand and nine where bitcoin was first mined genesis block happened january third two thousand and nine so it's its ninth birthday tomorrow and we will be celebrating with seamus the often a whole bunch of fi floundering north carolina party in durham on. ninth birthday sense to genesis block is going through
a lot of biblical drama you think about it the big point jesus became big going judas the old testament of the original gangsters really gave way to the new testament of the clash of the plan c. and b. c. c. a b. c. fast money types and that's been attempted to be crucified several times as well and it's been reborn several times so it's kind of like the bible on steroids well the money changers didn't they get kicked out of the temple or something like that all their money and queens us bladdered all over the place that has happened on many exchanges between exchanges have been hacked and all sorts of crazy stuff and of course many people have been piling in too. in the past year especially twenty seventeen is probably when most people heard about the queen and got involves a bot the first bitcoin certainly even people involved in our show and we've been talking about bitcoin since two thousand and eleven two years after his birth it
was two three dollars back then and we talked about. many many times we've we've interviewed all the top players in the pick my space. top guys and you know cameramen and editors and executives of our show have been watching these episodes for years and it was an untold september october that they finally started say how do we get one of these will buy and you're like wait you waited until it was like twenty thousand dollars to even think about buying we told you to buy it at two or three that's the amazing thing isn't it people that we've been talking about it for years finally what is it what eighteen nineteen twenty thousand were suddenly curious about it and started buying it but as is with these types of ideas they're completely dismissed at first and then when they end up changing everything all that stuff so i also want to say you know because a lot of people will only be new to this and they have endured the drama of pain since the futures were introduced to. be cash or bitcoin kasten all this sort of drama over the christmas period on these exchanges they might be alarmed so what i
would say is that you should go to you tube enterprise report bitcoin and look back through the years that this is kind of normal for this whole area it's you know you have to think of it like that sort of that cambridge explosion the pre-k. marine explosion of. evolution these are ideas being explored and a lot of failures and some great successes in fact humans come out of the x. the successes that happened in the be an explosion or remember the dot com crash the whole the whole nasdaq blew up drop seventy eight percent killings of dollars disappeared all kinds of companies were vaporized but from the mass came we google you know apple was reborn. amazon so these are the winners and now they dominate global trade in global market action so the same thing with big oil probably you know in another huge drop as we will probably see the survivors will.
all come up and be world beating companies in world beating applications and points i don't know if we've had any more gifts this year but i'm sure there will be many more forks in twenty eighteen so it might be good to hold your be a coin and hopefully there also be clarity because you know i think a lot of people were holding three twenty seventeen and the americans in the bitcoin space because of the lack of clarity from the i.r.s. is that an asset is a commodity as a property as you know is that income do you pay capital gains whether that's so i know that's why i haven't like really sold out because i don't know what what i would what the tax implications are but i want to you know talking with the law we will be with him on the birthday of bitcoin on the ninth birthday and first i want to say because of course we've had a volatile christmas a past few weeks that has been very volatile all over it just kept on going up it was parabolic up and you know you would see down days of ten fifteen percent and
people like flipped out they were scared panicked this of course is normal for our experience that we've witnessed two big queen through the past nine years but here is jim slop with bitcoin obituaries proclaimed per year and two thousand and ten there was one death of bitcoin proclaimed and two thousand and eleven there were six i remember that year and two thousand and twelve there was only one and twenty thirteen there were fifteen and twenty fourteen there were twenty nine and twenty fifteen there were thirty nine and twenty sixteen there were twenty eight and twenty seventeen ninety three deaths going pronounced so how many do you think there will be in twenty eighteen oh about using that chart as a guide they'll be real to a three hundred us person because it is unique it's a it's the fifth element it's completely. unique in that it's
reproducible don't count a suitable digital object. and be used back and forth electronically as a store of value and that had never occurred before this brilliant genesis block was mine based on the two thousand and eight suppose you've got the motorway paper and it means that all banks also intro banks are distance mediated they are no longer needed this is they're going to go the way of the music industry when napster was introduced you know that it's just not going to survive in the same way that it did and we often said that the biggest terrorist in the world are bankers like jamie diamond this is the terrorist killer this is going to put more terrorists out of business on wall street city of london then anything else and i think it was divinely inspired well certainly it has generated a lot of cult sort of following you know disciples and apostles and story line of an intervention hank resists is a direct pipeline to god ok so much of
a cult like statement yes yes and i want to say you mentioned the dot com bubble you were around for that and survived that rise and fall and you were right to point out that there were a lot of people who say oh because it's like pets dot com but what people are saying in response is like no this is the internet and pets dot com failed but just like some of the coins might fail but you know the things like amazon google survived and then new companies like facebook and twitter that weren't around during the first dot com crash so you know things can happen but there is a bit of sort of bubble hysteria going on that you see in this next headline a small fin tech stock surged two thousand six hundred percent in a week after announcing it's a crypto company fin tech plus cryptocurrency equals about seven billion dollars
that's how much the value of long fin corp surged to after the micro-cap stock. rocketed by as much as two thousand six hundred percent since debuting right before christmas most of the gains came when the company issued a press release saying it but do dot com a block chain empowered global micro lending solutions provider that transacts only cryptocurrency so if the c.e.o. of this company even went on c.n.n. b.b.c. or one bloomberg one of the financial news outlets and he was like this is too much why are you doing this this is overvalued people it was a penny stock and it acted like an all coin not even any all the coin i don't think has ever risen by two thousand six hundred percent in a week well why is this happening is because the reason why because it was created as we celebrate the birthday of genesis block it was created to do battle with central banks and banks around the world who are irresponsibly printing money without lending it out simply to bail out bankrupt institutions around the world
and this is led to ask the price explosion and the upward march of wealth to the top one tenth of one percent the global economy is incredibly distorted unlike in any time in history will billionaires are being created faster then one can possibly legitimize given the underlying economy is growing quite rapidly you know warren buffett himself said that a company that is growing at a multiple of inflation is probably doing it in a crooked way because there's no way you can outstrip. degree something that you're bound by laws of physics and laws of business to some degree and here you have this company skyrocketing in value because there are literally hundreds of trillions of dollars of ill gotten gains sitting in offshore accounts and sitting in hedge funds and sitting on wall street who are bored they're looking for something to do they see jim cramer on c. and b. c. screaming about something or they hear about this and they just put the money
available for this is instantaneous is there money to fight climate change and. is there money to increase labor wages to restore dignity to society through jobs no no no not at all it's only money available to the club talker so you oligarchs well i also think you know wrapping heading into the last minute or two here i want to say that you know janet yellen they're starting to pull away the punch bowl and i think this could be also part of all of that cash trillions and trillions and trillions have been created in the last few years and everybody's been waiting for something to happen remember in two thousand and eight two thousand and nine the likes of peter schiff are saying hyperinflation is coming his call may have been too early but you know that this could be some sort of hyper inflationary mindset that is out there it's happening in cryptocurrency is happening in the equity markets it's happening bonds it's happening in everything so this could be a last hurrah like people downing the drinks before the you know the bar closes
to peter schiff point you know it's all hinged on the u.s. dollar the world reserve currency which is being held up through the shenanigans of coordinators central bank fraud when somebody breaks rank this is going to happen twenty eighteen one of the major central banks in the world will start buying bitcoin they'll break ranks from the other central banks that are colluding to aggressively expand money supply to bail out corrupt banks but when one of these banks breaks off and says you know what we can triple quadruple quintuple our money by going into crypto and you guys can go and fend for yourself then the torrent of those trillions of dollars worth of cash that have been kept out of the economy due to illegal machinations by the central banks comes flooding in and the real hyperinflation kicks in the dollar crashes spectacularly that's happening and twenty eight team by the way the kaiser report was also born in two thousand and nine just to not that we're all the same but we were born the same year bitcoin wise i'm not a toshiba we're in
a new studio here and i want to say we will be getting some sort of like graphics and stuff like that behind us but i just want to introduce you to our new studio here in raleigh so happy birthday to us happy birthday to soto she nakamoto. there's a toe she knew it. i will state for the second half a lot telling you when. i had a great education a good job and a family the loping. i never had to worry about how i would eat somewhere i would sleep. but i'm facing christmas alone out on the streets of london. well you look to be honest. i thought the glory like going to you know to simulate it to still give a fee for the service. but
you don't really feel like he would be you know. and then. the guy just came over to be so will be in charge of this book. when you don't. see the gallic try to get a court to get. what they need not through only ten spaces you. make. left alone kelly said. claiming to know servant is messy that. alex you speak french.
most of those are. the same thing the same delphic continue to talk of this busy signal to. well go back to the guys report imax guys are time now to return to our conversation michael pentel pen to a port dot com money manager extraordinary out there in new jersey the bayonne bleeder they call you you know yeah. the boxer yeah but you know for all of my that was in town. yeah you almost beat mohammad ali really yeah they bottled the rocky character after chuck weapon or bale and blade or jews i know more about that you're seeing the most people living in new jersey ok so michael pinto let's get back to this you know bitcoin and you know your got a negative view on it and the points you make just to recap here that there's
a vulnerability at the exchanges and the on ramp off ramp the a word government could could go in there and cause havoc i mentioned there's an intellectual property challenge that could be made of banks to say we own the ip for this type of technology similar to the way microsoft attacked open source software like linux by saying we've got certain intellectual property there are they trying to invalidate this competitor you also mention the possibility of a fed coin fed going comes around it's a crypto coin it's a digital coin and you're idea is that they want to wean folks off cash yes they want to get people into a permanent negative interest rate scenario which they will need to do to extricate the economy out of the next great depression which is coming unfortunately in my opinion right so the depression comes when the market collapses market collapses because nothing was done to stop it from the last collapse except give the worst actors in the economy more money to go create more probably so only seventy trillion increase in debt since two thousand the globally so they're going to have to do something they only have about one hundred twenty five basis points of
bullets in the in the in the can they are global to fire the i'd say i mean does japan have to get this they've got zero what does it germany have they have nothing so they have nothing really to reduce the overnight going to major banks they have to to go. i get they can't do negative interest rates if they have physical test i'll just go and take all my hundreds out put them on with my mattress and you can say i get negative ten percent but i don't have to get ten percent because i have you know whatever x. number of dollars stuff the stuff in my house so they have to get the world used to living off of a digital currency and by the way there was a person nominee to the fed by mr trump called marvin goodfriend and what does marvin goodfriend love more than anything in the whole world. besides bitcoin negative nominal interest really look it up ok all right so there's the you know you're building a strong case here so because it is just like the gateway drug is just opening up
to this fed going yeah ok now here's my mike mike some of my post to some of this thought is that the i think that the krishna bit going going all the back to two thousand and eight white paper which describes the introduction to it which mentions bank bank fraud problems in the banking system and problems in the central bank system it's always been a race against the failure of the current system the failure of the banking system in the failure of the money system the fractional reserve system the what you're talking about would require more organization that's possible in an environment of more failing banks in twenty eighteen i think we're going to see a big bank like do it your bank collapse or some big bank in the u.k. collapse because as you know and as i know you know they are technically insolvent italy italy will collapse i mean italy is on the verge of collapse that will change that chain reaction that sets off and the chaos that and says it will not going to be an ability to manage that any anyone reasonable way and i think it's why this
push to bitcoin and i think bitcoin price the reason is so high is that it's discounting banking armageddon it's telegraphing his markets are discounting mechanism they're telling us that in very near future you're going to have another two thousand and eight banking catastrophe like rule i agree with. ever the you just said here's my all my issue and i'm sure you have thoughts on this the government really doesn't suffer. the money laundering flouting very readily and the know your customer rules they don't like people flouting those either and they really don't want to with alacrity give up control over the entire field of currency regime so why are they giving all this rope to cryptocurrency well because and the reason is the reason is maxwell's because they want to get the citizenry used to using a digital currency and they want to completely get rid of all of paper currencies and like i said this is going to this is coming out of it so i you know i think it
is coming into gaza on the accomplishes of that and then they ban all private yet the currencies for one public block chain that they completely control by the way when they do that they can track every single transaction so the underground economy goes away tax evaders go away and they'll do it under the guise of worrying about you know am ellen k y c and terrorists funding and they have all these subliminal reasons why this is going to be successful and well that while the public is worrying about what the broad size of kim carr dashin they're going to be have to have no control left over their money they'll be no protection from inflation the purchasing power of their money can be destroyed at the will of the governments i think you're giving too much credit to governments and if they wanted to co-opt a coin they could have during the early years using what's called a fifty one percent attack they could have an awful eyes mining with the resources
of one or two governments combined they didn't because they was not on their radar they have no idea what this is and is completely outside of it but they do know though don't think but now it's beyond their reach the computational. robustness of the protocol is such that no country or group of can. trees or even global effort could could co-opt or usurp the big protocol to point is beyond them which is one another reason why i keep going higher prices because it can't be attacked in that way second reason is that we have. an example here in zero of game theory game theory and if you follow game theory in the national liberal human this idea where all of the interests of a given scenario are equally balanced the point were participants are motivated not to snitch on each other there's that and won a nobel prize i believe for justice or the movie ok so we've already seen that play out in bitcoin with the mining industry you know their chinese are very dominant mining now the japanese are in mining was in eastern europe or in mining because
there's this huge game theory experiment going on where no one ends up having too much control because it's gets distributed and the power is distributed this game theory is going to jump to the nation states in other words it will become a strategic reserve for central banks and russia or china could be getting or japan mining bitcoin as a strategic reserve as they would buy gold in the face of a collapsing fee currency that we're seeing all over the world we both agree that feels vulnerable we both know that central banks are buying gold we both know that because it is incredibly robust to becoming a multi choice dollar asset one central bank start to play the game through with each other in bitcoin and because mining then that's another reason why you're not going to have any one state come in and decide outlaw it and do this and do that because of the entire business which is going to flow to the territory that welcomes this new business so it's competition of the fittest survival of the
fittest and no one country has a monopoly on this thing it's global and it's playing out globally you might be right but i think the i.m.f. together with the global central banks will shut it down to memphis bankrupt we know that they were completely bankrupt before that tried to before they interfere with the greece with the troika the e.c.b. . and then the you and the e.c. and before then they were about to close up shop and go away because they were there bankrupt they then got a bunch of banks to reacquire them christine legarde going to get your own currency the s.d.r. the special drawing rights yeah special drawing rights it is anchor of the exact same defense bankrupt they are a solvent another if the most leverage bank in the history of banks backed by nothing but who should only be errors it takes i'm going to say that that's the role of all the global that into a global special drawing right to bail out all the banks again yes but it's another fee out currency that's going to drive more capital into gold and more capital into because i mean that there were as big as a response to the f.d.r. the f.d.r. just another fiasco r.c.s. get bill out of the with another fiancé and you know what you know what max you
know who really gets hurt is the middle class was flushed down while there's millions and millions of millionaire i now know more cannot believe it was a big coin but because of the inflationary policies are going to be. inflicted on the american public and the european public and japan japanese public and you know the p.b. o.c. is out there right now trying to keep the ponzi scheme as david stockman calls it the red ponzi scheme afloat right let's say something all these things are going to collapse probably in two thousand and eighteen because we have an inverted yield curve probably by october of two thousand and eighteen billion briefly but they're still in the short end of the yield curve interest rates are higher than the long and deal to right now we have fifty three basis points between the two year and the ten year note that's going to invert now we have the cause credit to seize up. a bank and have paid the positive more than a loan why am i going make any more loans i don't want to know deposit live or went up a lot you know in the credit crisis of two thousand so reading through a credit crisis and how they got absolutely no i didn't know it was no ammo other
things i mentioned before helicopter money universe of ways you can come and negative interest rate policies made possible by these universal because of the fed coin or an i.m.f. coin in them or they're going to now there's three billion people on earth with an internet connection and now it's easy as easy to go to an app on your. smartphone and you've got whatever of the hundred fifty currencies that are out there in the world actively traded and you can put five bucks into a crypt a coin that's going up in value and that your buying power just went up in a world where they're printing hundreds of trillions of dollars to bail out the worst financial scum and terrorist that ever walked the face of the earth the bernanke is that janet yellen is the lloyd blankfein is it jamie diamond the guys who make some a big lawn look like mother theresa people react to that and they react physically in this several slee and they want to escape the matrix of the fia world how you can poor you how much good do you own. how many you want to give me for christmas that is how much how good oh and how do you allow yourself to be exposed to the
ravages of fear and it's not i still believe one of the best things about probably currency offer is the ability to move money around the world digitally yeah well guess what there are companies like gold money which i own that has a private blog chain that allows me to own gold and monetize it instantly and that's where i'm putting my hope and they also now offer but my point they offered that well they offer you cold cold storage though that's right they'll engrave your and why are they doing that it's silly i don't know why because the market for gold is nobody is buying gold anymore you can't give it away except for sheikhs who want twenty four karat gold toilet bowls that say nobody wants a fricken gold barnum or you know what i would call that is and that's it and that is it is very what about this michael plant yes or do you describe to the theory that the features gold price is in part responsible for the difficulty gold is having in the physical market to achieve paper gold prices you know
a paper gold artificial paper gold yeah i do believe in yes i do people people getting rid of you know millions and millions of dollars of gold within five seconds putting in a market order right you know when when there's new when there's no market around ok you know that does that in the jet it is a cool. added basis yeah they do that to hit the price of gold now of course they do you have mortgages maybe like the price you wanted to sell a large chunk of gold millions of ounces would you sell it when there was no liquidity in the middle of the night all at once with a market order clear indication of manipulation yes but but but only this minute delay should goes both ways yes but but but we haven't seen him go but tell me ask you this if a big point in distant to mediate all the banks and all the wall street machinery is it then clearing a path for the price of gold to go higher. seems i think ok so i finally agree with him of. yes absolutely ok there you go michael lowe's pick going but
i've got that other take take take the words out of one. well we got to go sadly just and things are heating up to come to new jersey next time on what is it please . all right that's it for this edition of the kaiser report with me max kaiser and stacy herbert like to thank our guest michael pentode penta of court actually you should go there and look at his work he puts out a research that's extremely interesting even though it doesn't cover pay quite as low dollar does it does it does and not favorably. twitter you know on twitter kaiser report you can follow us there until next time. the city of luxury and fame but also an alarming number of people living in the streets. the simple fact in l.a.
is there's just not enough shelter even if people on the streets right now decided to come in there's nowhere to come in it's been a struggle. this man from his own response to the problem and constructed dozens of tiny homes for people in need of shelter when you have nothing and nowhere to go. you know having something like this may as well be a castle but do the authorities accept such. a tiny house on a city parking space is not a solution her someone wanted touring the site otherwise it'll be a free for all they're a better alternative to end the homelessness crisis. hello my name's peter and i've been living in russia for about seven years and this is a film about just some of the crazy things i've got in the time.
feel us seeks an emergency un security council meeting on the ongoing protests in iran as accuses its rivals of stoking the unrest. which leads accuses the new york times of giving u.s. officials advance damage control time over diplomatic revelations and alleges that the media giant colluded with hillary clinton. and him and my going to germany and he is under investigation after twitter post of hers is blamed for inciting anti muslim hatred. are broadcasting live direct from our studios in my.